LOS ANGELES, United States: Two devastating wildfires in Los Angeles were declared fully contained by firefighters on Friday after burning for more than three weeks, killing about 30 people and displacing thousands more.
The Palisades and Eaton fires in Southern California’s Los Angeles County were the most destructive in the history of the second-largest US city, burning more than 150 square kilometers and over 10,000 homes, causing damage estimated to cost hundreds of billions of dollars.
Cal Fire, the state’s firefighting agency, updated the figures on its website on Friday to show 100 percent containment of both fires, meaning their perimeters were completely under control.
Evacuation orders were lifted earlier, with the fires not posing a serious threat for days.
Both blazes started on January 7 and their exact cause remains under investigation.
But human-driven climate change set the stage for the infernos by reducing rainfall, parching vegetation, and extending the dangerous overlap between flammable drought conditions and powerful Santa Ana winds, according to an analysis published this week.
The study, conducted by dozens of researchers, concluded that the conditions fueling the blazes were approximately 35 percent more likely due to global warming caused by burning fossil fuels.
The two fires destroyed thousands of structures over more than three weeks in the affluent Pacific Palisades neighborhood of Los Angeles and Malibu, and in the Altadena community in Los Angeles County, forcing thousands of residents to evacuate their homes.
“Our recovery effort is based around getting people back home to rebuild as quickly and safely as possible,” Los Angeles Mayor Karen Bass said in a statement Friday. “We are making sure that the Palisades will be safe as residents access their properties.”
City police chief Jim McDonnell said the presence of law enforcement officers in the area would be “more than 10 times” what it was before the start of the fires.
Private meteorological firm AccuWeather has estimated the damage and economic loss at between $250 billion and $275 billion.
Los Angeles fires fully contained after burning for 3 weeks: state agency
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Los Angeles fires fully contained after burning for 3 weeks: state agency
- Palisades and Eaton fires burned more than 150 square kilometers and over 10,000 homes
- Estimated damage and economic loss at between $250 billion and $275 billion
SpaceX acquires xAI in record-setting deal as Musk looks to unify AI and space ambitions
- The deal is the biggest M&A transaction of all time
- Deal values xAI at $250 billion, SpaceX at $1 trillion
Elon Musk said on Monday that SpaceX has acquired his artificial-intelligence startup xAI in a record-setting deal that unifies Musk’s AI and space ambitions by combining the rocket-and-satellite company with the maker of the Grok chatbot. The deal, first reported by Reuters last week, represents one of the most ambitious tie-ups in the technology sector yet, combining a space-and-defense contractor with a fast-growing AI developer whose costs are largely driven by chips, data centers and energy. It could also bolster SpaceX’s data-center ambitions as Musk competes with rivals like Alphabet’s Google, Meta, Amazon-backed Anthropic and OpenAI in the AI sector.
The transaction values SpaceX at $1 trillion, and xAI at $250 billion, according to a person familiar with the matter.
“This marks not just the next chapter, but the next book in SpaceX and xAI’s mission: scaling to make a sentient sun to understand the Universe and extend the light of consciousness to the stars!” Musk said. The purchase of xAI sets a new record for the world’s largest M&A deal, a distinction held for more than 25 years when Vodafone bought Germany’s Mannesmann in a hostile takeover valued at $203 billion in 2000, according to data compiled by LSEG. The combined company of SpaceX and xAI is expected to price shares at about $527 each, another person familiar with the matter said. SpaceX was already the world’s most valuable privately held company, last valued at $800 billion in a recent insider share sale. XAI was last valued at $230 billion in November, according to the Wall Street Journal. The merger comes as the space company plans a blockbuster public offering this year that could value it at over $1.5 trillion, two people familiar with the matter said.
SpaceX, xAI and Musk did not immediately respond to requests for comment.
The deal further consolidates Musk’s far-flung business empire and fortunes into a tighter, mutually reinforcing ecosystem – what some investors and analysts informally call the “Muskonomy” – which already includes Tesla, brain-chip maker Neuralink and tunnel firm the Boring Company. The world’s richest man has a history of merging his ventures together. Musk folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform’s data and distribution. In 2016, he used Tesla’s stock to buy his solar-energy company SolarCity.
The agreement could draw scrutiny from regulators and investors over governance, valuation and conflicts of interest given Musk’s overlapping leadership roles across multiple firms, as well as the potential movement of engineers, proprietary technology and contracts between entities.
SpaceX also holds billions of dollars in federal contracts with NASA, the Department of Defense and intelligence agencies, which all have some authority to review M&A transactions for national security and other risks.
